Cairo – Mubasher: Misr Hotels on Monday reported a 15.2% year-on-year rise in profits, according to a bourse filing.
The firm achieved profits of EGP 95.03 million between July 2016 and June 2017 from EGP 82.46 million in the corresponding period of the year before.
Profits soared 39.5% to EGP 126 million in the nine months ended March 2017, compared to EGP 90.32 million in the same period of 2016.
In the fiscal year ended June 2017, the firm achieved net revenues of EGP 201.6 million against losses of EGP 90.02 million in the same period of the previous fiscal year.
Misr Hotels paid EGP 53 million as loan instalments to the National Bank of Egypt (NBE) for the development of the Nile Ritz-Carlton in the fiscal year ended June 2017.
